\begin{tabular}{lcc} \hline
 & (1) & (2) \\
VARIABLES & ASC & ASC \\ \hline
 &  &  \\
ln $\Delta$ IPW (91-07) & 0.032 & 0.011 \\
 & (0.077) & (0.075) \\
ageCohort = 2, 31-50 &  & 0.670 \\
 &  & (0.559) \\
ageCohort = 3, 51-70 &  & 0.674 \\
 &  & (0.550) \\
ageCohort = 4, >70 &  & 0.504 \\
 &  & (0.733) \\
1b.ageCohort\#co.ln\_shock &  & 0.000 \\
 &  & (0.000) \\
2.ageCohort\#c.ln\_shock &  & 0.078 \\
 &  & (0.081) \\
3.ageCohort\#c.ln\_shock &  & 0.066 \\
 &  & (0.079) \\
4.ageCohort\#c.ln\_shock &  & 0.029 \\
 &  & (0.106) \\
Female & 0.028 & 0.030 \\
 & (0.028) & (0.028) \\
Higher Cert. & -0.105*** & -0.111*** \\
 & (0.039) & (0.039) \\
University & -0.232*** & -0.239*** \\
 & (0.031) & (0.030) \\
Married & 0.103*** & 0.102*** \\
 & (0.024) & (0.024) \\
\% non-UK born & -0.001 & -0.001 \\
 & (0.001) & (0.001) \\
$\Delta$ \% non-UK born & 0.002 & 0.002 \\
 & (0.002) & (0.002) \\
Age & 0.010 &  \\
 & (0.010) &  \\
c.ln\_shock\#c.age & 0.001 &  \\
 & (0.001) &  \\
 &  &  \\
Observations & 1,793 & 1,793 \\
R-squared & 0.130 & 0.130 \\
 TTWAs & 239 & 239 \\ \hline
\multicolumn{3}{c}{ Robust standard errors in parentheses} \\
\multicolumn{3}{c}{ *** p$<$0.01, ** p$<$0.05, * p$<$0.1} \\
\end{tabular}
